Tiansheng Pharmaceutical Group Co., Ltd. completed the acquisition of 51% stake in Hubei Xianming Medical Machinery Co., Ltd. from Li Qiqing, Li Wenhui, and Li Wenfeng.
September 11, 2017
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Tiansheng Pharmaceutical Group Co., Ltd. (SZSE:002872) signed a share transfer agreement to acquire 51% stake in Hubei Xianming Medical Machinery Co., Ltd. from Li Qiqing, Li Wenhui, and Li Wenfeng for CNY 5.1 million on August 9, 2017. Under the terms, Tiansheng Pharmaceutical Group will acquire 5.1 million shares in which Li Qiqing, Li Wenhui, and Li Wenfeng will sell 2.1 million shares (21% stake), 1.5 million shares (15% stake) and 1.5 million shares (15% stake) respectively. Tiansheng Pharmaceutical Group Co., Ltd. will use own funds of CNY 5.1 million to acquire 51% stake in Hubei Xianming Medical Machinery Co., Ltd. The transaction does not need approval from the Board of Directors and shareholders.
Tiansheng Pharmaceutical Group Co., Ltd. (SZSE:002872) completed the acquisition of 51% stake in Hubei Xianming Medical Machinery Co., Ltd. from Li Qiqing, Li Wenhui, and Li Wenfeng on September 12, 2017.
Tiansheng Pharmaceutical Group Co LTD is a China-based company principally engaged in the research and development, manufacture and sales of pharmaceuticals. The Company's main products include pediatric lung cough particles, erythromycin enteric-coated capsules, silver ginseng Tongluo capsules, Salvia granules, Shugan Yi spleen granules, compound Ganoderma lucidum granules, Xiangdan injection, Injection, Qi and Diabetes tablets, liver capsule, Ling Jing capsule, lungs of nuclear paste, Shen Qi Yi lung pill, among others. The Company mainly distributes its products within domestic market.
Tiansheng Pharmaceutical Group Co., Ltd. completed the acquisition of 51% stake in Hubei Xianming Medical Machinery Co., Ltd. from Li Qiqing, Li Wenhui, and Li Wenfeng.
TIANSHENG PHARMACEUTICAL GROUP CO., LTD. 
